EUR/GBP extends gains and approaches 0.7400

By FXStreet FXStreet (Córdoba) – The euro is among the top performers on Friday and after the beginning of the US session extended gains and pushed EUR/GBP to fresh highs.

The pair peaked at 0.7397 and currently it trades at 0.7380, 80 pops above daily lows. Despite it did not reach fresh weekly highs it rising for the fourth day in a row.

A strong week but…

The euro is about to end the week higher, with important gains against the pound but so far it was unable to break and hold above 0.7400. A confirmation of a break of the mentioned level could open the doors for more gains in the medium term.

Earlier on the week the pair moved to the downside but EUR/GBP rebounded at 0.7180 where the weekly 20-SMA is located. The pair remains near the highs of the second and third quarter, but still below and limited.
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Source:: FX Street